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As well as the processes of international trade in different regions of the world. The African Development

  1. A trade-creating effect and (b) a trade-diversion effect. Although the former might be a gain,
  2. A) Exchange controls distort the pattern of international trade away from that based upon comparative
  3. A) In the values of stocks traded in the secondary market.
  4. A) International division of labor
  5. A) The significance of foreign trade and economic relations
  6. A. Read the text about new product development.
  7. America, the euro zone and the emerging world are heading in different directions

Bank, the Asian Development Bank, the European Bank for Reconstruction and Development,

The Inter-American Development Bank refer to regional banks.

A) The African Development Bank (ADB) is a regional international bank established in 1964 for

Assisting in the economic growth of the independent African states. In 1972 an affiliated organization,

The African Development Fund, was set up with a membership open, unlike that of the Bank, to

Non-African states. It is through this Fund that loans are made to African member states at low rates

Of interest (soft loan). Affiliation to the Fund has enabled the Bank to broaden its sources of funds for

Investment. In 1982 the African members of the Bank agreed to open its membership to non-African

States. In 1996 the Bank had fifty African member states and twenty-five other member states.

B) The Asian Development Bank (ADB), based in Manila, was established in 1966, following the

Recommendations of the United Nations Economic Commission for Asia and the Pacific. It was

formed "to foster economic growth and cooperation in the region of Asia and the Pacific and to

contribute to the acceleration of economic development of the developing countries of the region".

It encourages economic and financial cooperation among the regional members. Membership

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